January natural gas prices had a gap lower open Thursday evening and has fallen to a new contract low this morning. The market rallied yesterday in a very active trade on a favorable EIA storage data. The weekly natural gas storage report showed a draw of 20 bcf, which brought total storage to 3,831 bcf or 8.7% above the 5 year average. While this figure is off the all time high storage level set 2 weeks ago, it is a record high level for this time of the year.
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